§ 43-55A. Death benefits.

(a)

Designation of beneficiary.

(1)

“Beneficiary” means any one or more primary or contingent beneficiaries designated by the participant to receive any benefit payable under the plan on or after the participant's death.

(2)

Designation of beneficiary shall be made, changed, or revoked in writing in the form and manner prescribed by the board of trustees, and designation of a beneficiary under an optional form of benefit, or a change or revocation of such designation, shall also be in accordance with the provisions of section 43-55B.

(3)

In the absence of a valid beneficiary designation by the participant, or in the event that no designated beneficiary survives the participant, any benefit payable under the plan on or after the participant's death shall be paid to the participant's spouse, if living at the time of the participant's death or, if not living, then the persons entitled to inherit the deceased’ s estate under the laws of descent and distribution of the State of Florida, in effect on the date of death, shall be deemed to be the beneficiary.

(b)

Death before vesting. Should a participant die, not in the line of duty, prior to the participant becoming vested in the plan and prior to the participant's normal retirement date, the participant's beneficiary shall receive, within 60 days of the death, the amount of the participant's accumulated firefighter contributions accrued at the time of death.

(c)

Death after vesting.

(1)

If a participant dies after completion of ten years of credited service, the following benefit shall be paid to the surviving spouse unless another beneficiary has been designated by the participant, in which case the benefit shall be paid to said beneficiary (or to the estate if there is not a surviving spouse or beneficiary):

a.

If the deceased pensioner has exhausted the 120 month guaranteed benefit, no benefits are payable unless the pensioner was receiving an optional form of benefit.

b.

If the deceased pensioner has not exhausted the 120 month guaranteed benefit, the surviving spouse will continue to receive the monthly benefits until exhausted unless the pensioner was receiving an optional form of benefit.

(2)

If a participant has left the accumulated firefighter contributions in the fund and is awaiting eligibility to commence benefit payments, payment shall be made in accordance with subsection (c)(1)b. above unless return of firefighter's accumulated contributions are elected by the beneficiary. In that case, no further benefits are payable by the plan.

(d)

Minimum distribution rules. All distributions under this section shall be made in accordance with Code Section 401(a)(9), the regulations promulgated under Code Section 401(a)(9), including Treasury Regulation Code Section 1.401(a)(9)-2 and any other provisions reflecting the requirements of Code Section 401(a)(9) and prescribed by the Internal Revenue Service, all of which are hereby incorporated by reference; and the terms of the plan reflecting the requirements of Code Section 401(a)(9) shall override any provisions of the plan which are inconsistent with those requirements.

(Ord. No. 2891, § 5, 10-13-98)